31. INCENTIVES – REWARD PLAN
32. DOLLAR STORES
33. DON’T GIVE UP THE GOOD STUFF
34. UTILITIES
35. CHECK THE GARBAGE
36. WRITTEN PLAN
37. ATTITUDE
38. UNSECURED CREDITORS
39. OFF-SEASON
40. BUY VERSUS RENT OR LEASE
31. Incentives – Reward Plan
To help you and your family spend more wisely, set up a system
where rewards are given when the rules set forth are followed.
For example, if a family decision was made to start making lunch
and brown bagging it to work and school instead of paying each
day, the incentive might be that if this is followed strictly for one
month, the entire family can spend a Saturday at the Zoo or
favorite theme park.
32. Dollar Stores
Many years ago, dollar stores offered only off brand products or
poorly made merchandise. However, that has completely
changed.
Now you can walk into a dollar store and find the same name
brand laundry soap, cleaning supplies, clothing, school supplies,
everything for a fraction of the cost.
Where a store name brand bottle of laundry detergent might cost
$6.50 at a grocery store, you can find the identical product and
size at the dollar store for $2.50.
Check out your local dollar store and enjoy the mountains of
savings.
33. Don’t Give up the Good Stuff
A misconception is that while trying to save money you have to
deal with sub-par merchandise, which is untrue. If you love fresh
breads and pastries, visit a bakery thrift store. For your fresh
fruits and vegetables, visit your local farmer’s market. Try eBay
or other auction sites to buy top quality merchandise for a huge
discount. Watch for neighborhood garage sales or estate sales
and auctions to find items you need. Just because you are looking
for bargains as a way of saving money does not mean you have to
skimp on quality.
34. Utilities
Set up some rules in your home such as turning lights off when
leaving the room, having only a parent adjust the air or heat,
leaving the doors or windows open when letting either cold or hot
air into the house.
Utilities are expensive and a great money saver is to monitor how
they are used in your home. Another great idea is the investment
of buying an energy-efficient hot water heater.
If you cannot afford one, lower the setting so you are not heating
water so hot. The hotter the setting, the more energy used.
35. Check the Garbage
One woman had her teenage daughter clean her room. The
daughter proudly did just that, filling two huge trash bags of
things she no longer wanted.
Out of curiosity, the mother peeked into one of the bags to see
what was being thrown away. In shock, she found a new tube of
suntan lotion, two perfectly good sweaters, makeup, lotion, a
picture frame, hair curlers, all good things.
The daughter did not realize that just because the items were of
no interest to her, they might be to someone else. After talking to
her daughter, the mom turned around and listed the items on
eBay, making a $35 profit on her daughter’s “junk.”
36. Written Plan
When a person goes into business, they create a Business Plan,
which becomes the blueprint of their business. The same should
apply if you are trying to save money. Create a master plan that
the entire family can get involved with and learn their role. When
you start to spend too much, go back and look at your plan to see
where you are messing up and how you can fix it.
37. Attitude
Good money management is an acquired skill. As you go forward
with the process of saving money, you need to have a good,
positive attitude, which is often what will keep you and your
family heading in the right direction. If you think you cannot
save, then you probably will not. Be determined and stay positive
about saving.
38. Unsecured Creditors
Make a list of all your unsecured debts along with creditor contact
information and payoff amount so you can have an accurate
record of how much you owe. Choose one creditor, possibly a
credit card, and focus on paying off that bill. Once you have
achieved that goal, choose another. Start with the debt that has
the highest interest rate since it is the one costing you the most
money.
39. Off-Season
The next time you plan a vacation, consider off-season.
Generally, the prices for airfare, hotel, and cars are substantially
lower than traveling during peak time.
If you look at all your options, you will find that in many cases,
you can come close to the date you would like to travel. As an
example, flying to Hawaii through June 8 is considered off-season
while June 9 is peak.
One day makes a huge difference in price.
40. Buy versus Rent or Lease
When looking at homes or automobiles check the rent and lease
options. Depending on your particular situation, renting or leasing
may be a better financial decision. Weigh all your options and see
which choice makes the best sense from a financial standpoint.
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